Latest HDFC Bank vs SBI vs ICICI Bank fixed deposit interest rates: Which one will benefit you more?

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Updated: August 7, 2018 4:49:17 PM

Top Indian banks have recently revised their fixed deposit interest rates. Fixed deposits are a secured savings avenue which offers guaranteed returns at a very low risk.

Top Indian banks have recently revised their fixed deposit interest rates.

Top Indian banks have recently revised their fixed deposit interest rates. Fixed deposits are a secured savings avenue which offers guaranteed returns at a very low risk. The FD rates vary across banks according to the tenure. Under the scheme, money is deposited for a fixed period of time, which ranges from seven days to ten years. HDFC Bank on Monday revised its fixed deposit rates by up to 0.6 per cent points.

Here are the latest fixed deposit interest rates of SBI, HDFC Bank and ICICI Bank:

– State Bank of India fixed deposit interest rates:

India’s largest public lender, SBI, revised its interest rates on FDs on July 30. On deposits below Rs 1 crore, interest rates were raised between 5 basis points and 10 basis points. It means the rates were raised between 0.05 per cent – 0.1 per cent across tenures of 1 year to 10 years.

The accounts can be maintained with a minimum balance of Rs 1000. Interestingly, there is no maximum cap on the amount that can be invested in the fixed deposits of SBI.

(All figures in % per annum)

Term

Interest rate for general public w.e.f. 30.07.2018

Interest rate for senior citizens w.e.f. 30.07.2018

7 days to 45 days

5.75

6.25

46 days to 179 days

6.25

6.75

180 days to 210 days

6.35

6.85

211 days to less than 1 year

6.4

6.9

1 year to less than 2 year

6.7

7.2

2 years to less than 3 years

6.75

7.25

3 years to less than 5 years

6.8

7.3

5 years and up to 10 years

6.85

7.35

– HDFC Bank fixed deposit interest rates:

The HDFC Bank revised its FD rates with effect from August 6, 2018, according to hdfcbank.com. The private bank increased the rate on various maturities by up to 0.6 percentage points. For instance, deposits for 6-9 months would earn 6.75 per cent interest, 40 basis points higher than the previous rate.

The rate on deposits for a tenure of 9 months three days or longer and less than a year has been raised by 60 basis points while for one year it has been hiked by 40 basis points to 7.25 per cent. Fixed deposits beyond 2 years 1 day to 5 years will earn 10 basis points higher rate of interest than the previous one.

Period

< 1 Crore

Interest Rate (per annum)

Senior Citizen Rates (per annum)

7 – 14 days

3.50%

4.00%

15 – 29 days

4.25%

4.75%

30 – 45 days

5.75%

6.25%

46 – 60 days

6.25%

6.75%

61 – 90 days

6.25%

6.75%

91 days – 6 months

6.25%

6.75%

6 months 1 day- 6 months 3 days

6.75%

7.25%

6 months 4 days

6.75%

7.25%

6 months 5 days- 9 months

6.75%

7.25%

9 months 1 day- 9 months 3 days

7.00%

7.50%

9 months 4 days

7.00%

7.50%

9 months 5 days – 9 months 15 days

7.00%

7.50%

9 months 16 days

7.00%

7.50%

9 months 17 days < 1 Year

7.00%

7.50%

1 Year

7.25%

7.75%

1 year 1 day – 1 year 3 days

7.25%

7.75%

1 year 4 days

7.25%

7.75%

1 year 5 days – 1 Year 15 Days

7.25%

7.75%

1 Year 16 days

7.25%

7.75%

1 year 17 days – 2 Years

7.25%

7.75%

2 years 1 day – 2 Years 15 days

7.10%

7.60%

2 Years 16 days

7.10%

7.60%

2 years 17 days – 3 Years

7.10%

7.60%

3 years 1 day – 5 years

7.10%

7.60%

5 Years 1 Day – 8 Years

6.00%

6.50%

8 Years 1 Day – 10 Years

6.00%

6.50%

– ICICI Bank fixed deposit interest rates:

Interest rates on NRO & NRE deposits and Domestic deposits (Less than Rs 1 crore), as per icicibank.com:

Rate of Interest (% p.a.) w.e.f June 07, 2018

Tenure

General public

Senior Citizen

7 days to 14 days

4

4.5

15 days to 29 days

4.25

4.75

30 days to 45 days

5.5

6

46 days to 60 days

5.75

6.25

61 days to 90 days

6

6.5

91 days to 120 days

6

6.5

121 days to 184 days

6

6.5

185 days to 289 days

6.25

6.75

290 days to less than 1 year

6.5

7

1 year to 389 days

6.6

7.1

390 days to 2 years

6.75

7.25

2 years 1 day upto 5 years

7

7.5

5 years 1 day upto 10 years

7

7.5

5 Years Tax saver FD(Max upto R

s.

1.50 lac)

7

7.5

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